Short Interest in Atlantic American Corporation (NASDAQ:AAME) Expands By 61.4%

Atlantic American Corporation (NASDAQ:AAME) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 7,011 shares, an increase of 61.4% from the May 14th total of 4,344 shares. Based on an average daily volume of 6,209 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Trading of Atlantic American

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Atlantic American by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 4,368 shares in the last quarter. Citadel Advisors LLC bought a new stake in Atlantic American during the 3rd quarter valued at $81,000. Finally, Teton Advisors LLC bought a new stake in Atlantic American during the 3rd quarter valued at $55,000. Institutional investors own 5.54% of the company’s stock.

Atlantic American Stock Up 0.6%

NASDAQ:AAME opened at $1.81 on Wednesday. The company has a fifty day moving average of $2.26 and a 200-day moving average of $2.52. The firm has a market capitalization of $36.92 million, a P/E ratio of 8.23 and a beta of 0.73. Atlantic American has a twelve month low of $1.59 and a twelve month high of $3.71.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Atlantic American has an average rating of “Sell”.

About Atlantic American

Atlantic American Corporation is a Florida-based holding company that engages in the insurance business through its wholly owned subsidiaries. The company’s operations are organized into four principal segments: Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Risk Retention Group. Through these lines of business, Atlantic American provides a range of insurance products and services to individuals, businesses and affinity groups across the United States.

In its Life Insurance segment, Atlantic American offers traditional whole life and universal life policies, emphasizing guaranteed death benefits and cash value accumulation.